Total Bankruptcy Business Filings Increase from September, Decline from Last Year
Monday, November 6, 2017
Total U.S. bankruptcy filings increased 2 percent in October 2017 over October of last year, according to data provided by Epiq Systems Inc. and American Bankruptcy Institute. Filings totaled 64,579 in October 2017, up slightly from the October 2016 total of 63,082. Total filings for October increased 8 percent compared to the 60,024 total filings in September 2017.
Commercial bankruptcy filings totaled 2,989 in October 2017, a 3 percent decrease from the 3,077 commercial filings in October 2016. Commercial chapter 11 filings registered the steepest drop, as the 316 filings in October 2017 were down 22 percent from the October 2016 commercial chapter 11 filing total of 405.
October’s commercial filing total represented a 4 percent increase from the September 2017 commercial filing total of 2,889. However, commercial chapter 11 filings were down 27 percent from the 433 filings recorded in September 2017.
Consumer bankruptcies also increased in October 2017, as the 61,590 filings were 3 percent more than the 60,005 consumer filings registered in October 2016. Total noncommercial filings for October also represented an 8 percent increase from the September 2017 noncommercial filing total of 57,135.
The average nationwide per capita bankruptcy filing rate for the first 10 calendar months of 2017 (Jan. 1-Oct. 31) remained the same at 2.53 (total filings per 1,000 population) as the rate registered during the first nine months of the year. The average daily filing total in October 2017 was 3,075, a 2.5 percent decrease from the 3,154 total daily filings registered in October 2016.